Estate Living Magazine New Beginnings - Issue 37 January 2019 | Page 51

L I v E
S M A R T
Are growth nodes the new estates?
Two economic factors (both apparently completely unrelated to
property) are driving a hugely disruptive trend in the South African
property market: traffic jams and the cost of fuel. ‘With growing
congestion and the rising cost of fuel reducing the distance that
people are willing to travel each day, there is a strong desire to live
close to work, schools and retail,’ Dr Andrew Golding, CE of the Pam
Golding Property Group, noted in his recent Annual Residential
Property Report. This, he said, could either be achieved by living in
an estate, or by living in a growth node that offers all these facilities.
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‘Instead of a single large, congested, expensive node, it makes more
sense to have several smaller, less expensive nodes,’ he said. ‘There
can also be a clustering of particular businesses within a particular
node – such as financial services and legal companies.’ This trend
is already playing out in Johannesburg, Cape Town and Durban –
three major metros that have experienced burgeoning growth with
the establishment of huge new nodes to their north. ‘The greater
Fourways area has become greater Johannesburg’s fastest-growing
centre, evolving into a mini-city in the mould of Sandton city
centre,’ Golding said. ‘While Cape Town is a globally sought-after
destination, acclaimed for its natural beauty, lifestyle and world-class
services, the city’s well-established Northern Suburbs have morphed
into what is essentially an appealing city in its own right, away from